Spirit Aero gets help from Boeing, Airbus to prop up weak finances
Spirit AeroSystems said on Tuesday it would receive up to $350 million in advance payments from its largest customer Boeing and up to $107 million from Airbus , giving the struggling supplier a lifeline as it burns cash after four consecutive years of losses.
Spirit to Receive up to $350 Million in Advance Payments From Boeing
Spirit AeroSystems said on Tuesday that Boeing will pay a total of up to $350 million in advance payments to the firm, providing the struggling supplier a lifeline as it continues to burn cash after four consecutive years of losses.
Airbus (OTCPK:EADSY) is nearing an agreement to provide funding and revised payment terms to Spirit AeroSystems (NYSE:SPR) as ...
Spirit AeroSystems is warning that its business viability remains in doubt, saying its cash reserves are drying up due to ...
In Q3, despite its quarterly revenues climbing slightly to $1.47 million from $1.43 million, Spirit AeroSystems’ costs ...
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More than 32,000 Boeing machinists walked off the job on Sept. 13 after turning down an earlier tentative agreement.
Spirit AeroSystems will start furloughing ... Spirit also makes parts for Boeing rival Airbus, which also plans to buy back some assets as part of the reintegration into Boeing.
Boeing has agreed to loan aerostructures manufacturer Spirit AeroSystems up to $330 million, a move coming just days after ...
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